The financial IT industry used to be regarded in parity with nuclear power plants and the airline industry quality wise, but lately exchanges and marketplaces have taken another route. System outages and glitches are not uncommon these days, and the cost of them isn't limited to the actual losses they impose on market participants; it's an industry-wide problem as trust in the financial markets and their systems is eroded.
Watch the Bloomberg TV interview in which Veronica Augustsson comments on Nasdaq's trading halt that brought down trading in 2,500 US-listed companies, including Apple, Google and Microsoft for more than three hours yesterday.
